Supported
The cited record supports the material proposition.
The DOJ said the Mozambique project contractor paid about US$50 million in kickbacks to bankers at Credit Suisse's UK unit.
- Claim made by
- US Attorney's Office, Eastern District of New York, regulator statement
- Published
- 19 October 2021
- Original
- Credit Suisse Resolves Fraudulent Mozambique Loan Case in $547 Million Coordinated Global Resolution
- Evidence score
- 86 How it was scored
- Last reviewed
- 25 October 2026
Why this label
The DOJ release states that the contractor paid kickbacks of about US$50 million to CSSEL bankersS1. This statement is part of the resolution the bank accepted. The English Commercial Court judgment records payments to one Credit Suisse banker, for example a US$5.5 million payment in four instalmentsS2. On that one episode the judge said he made no adverse finding against the contractor group, so the civil record on that episode is narrower than the DOJ account. We could not read the judgment's final conclusions on liability. The claim here is limited to what the DOJ said, which the record supports.
Current procedural position
Stated in the DOJ release on the 19 October 2021 plea and DPAS1. English Commercial Court judgment of 29 July 2024S2.
Record supporting the assessment
the contractor paid kickbacks of approximately $50 million to CSSEL bankers
was paid US$5.5 million in four instalments
Conflicting or limiting record
I do not make any finding adverse to Mr Safa or the Privinvest Companies
Evidence score: 86 of 100
The score grades how well the record establishes this assessment. It is not a score of Credit Suisse Group AG. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.
| Component | Points | Max | Reason |
|---|---|---|---|
| Source authorityIs the source competent to establish the proposition? | 28 | 30 | The DOJ release and an English judgment are both competent records. |
| DirectnessDoes the source state the proposition or only discuss adjacent facts? | 18 | 20 | The DOJ states the figure directly. |
| CorroborationDo independent records support the same material point? | 10 | 15 | The judgment records banker payments but limits its finding on one episode. |
| Procedural accuracyDoes the record settle the procedural state the claim describes? | 13 | 15 | The plea is settled. |
| CurrencyHas the record been checked against later developments? | 8 | 10 | Checked against the 2024 judgment. |
| ReproducibilityCan a reader locate the passage and repeat the assessment? | 9 | 10 | Both records are public. |
| Total | 86 | 100 |
Timeline
Related cases
- United States v. Credit Suisse Securities (Europe) Limited and Credit Suisse Group AGUS District Court for the Eastern District of New York. Criminal. 21-CR-520 (Credit Suisse Securities (Europe) Limited) and 21-CR-521 (Credit Suisse Group AG).Stage: Guilty plea by the UK unit. DPA with the parent extended to January 2026, formal end not foundS4
- The Republic of Mozambique (acting through its Attorney General) v Credit Suisse International and othersHigh Court of Justice, Business and Property Courts of England and Wales, Commercial Court. Civil. [2024] EWHC 1957 (Comm).Stage: Judgment given on 29 July 2024. Credit Suisse claims settled before trial
- Judgment in [2024] EWHC 1957 (Comm)S2
Revision history
- Assessment first published with label Supported.
Have a record that changes this assessment? See corrections and responses.
Sources
- S1Tier A Credit Suisse Resolves Fraudulent Mozambique Loan Case in $547 Million Coordinated Global ResolutionUS Attorney's Office, Eastern District of New York. Regulator press release. 19 October 2021.Supports the DPA, the UK unit's plea, the US$547 million total and the kickback figure. It does not state the SEC and FCA amounts separately.Link working, checked 25 October 2026
- S2Tier A The Republic of Mozambique (acting through its Attorney General) v Credit Suisse International and others [2024] EWHC 1957 (Comm)High Court of Justice, Commercial Court (National Archives). Court judgment. 29 July 2024.Records the eve of trial settlement and the three borrowers. We did not read its final orders on other parties.Link working, checked 25 October 2026
- S4Tier B Litigation, regulatory and similar mattersUBS Group AG (Form 20-F filed with the SEC). Company filing. 9 March 2026.UBS annual report note for 2025. Supports the three-year DPA and its extension to January 2026. It does not say the DPA has ended.
Other claims about Credit Suisse Group AG
- Supported88The US Department of Justice said in October 2021 that Credit Suisse entities resolved the Mozambique loan case with more than US$547 million in penalties, fines and disgorgement, including a guilty plea by its UK unit.Regulator statement, 19 October 20213 records citedFraud
- Supported81Credit Suisse settled the Republic of Mozambique's London claim over the loans on the eve of trial.Court filing, 29 July 20242 records citedFraud
- Outdated84The October 2021 DOJ release presented Credit Suisse Group AG as the parent bank that entered the Mozambique deferred prosecution agreement.Regulator statement, 19 October 20214 records citedCorporate status